PE Investors to Back Sandler O'Neill

Kelso & Company and The Carlyle Group have entered into a definitive agreement to provide Sandler O'Neill + Partners with a significant amount of development capital in exchange for minority stakes. Sandler O'Neil is a full-service investment banking firm and is being legally advised by Wachtell, Lipton, Rosen & Katz on the deal. Debevoise & Plimpton is serving as legal counsel to Kelso, while Simpson Thacher & Bartlett is serving as Carlyle's legal counsel.